UK motor insurers to make largest annual loss in a decade due to inflation November 25, 2022 The UK motor insurance sector is set to make the largest annual loss in over a decade as a result of inflationary pressures. Analysis published today by EY has forecast that net combined ratios will reach 115 per cent this year – the worst year since 2010 – going down slightly to 114 per cent [...]
Bank of England could cut rates to offset deep recession, deputy governor hints November 24, 2022 The Bank of England may have to cut interest rates if the UK economy slumps into a long, tough recession, a senior official at the monetary authority predicted today. Sir Dave Ramsden, a deputy governor at the Bank, told the Bank of England Watchers’ conference today that if households and businesses are under greater financial [...]
London investment will come roaring back after drop-off, says British Business Bank November 24, 2022 London’s firms will be forced to weather a sharp drop-off in deals in the coming months before they rebound in full force, a top official at the British Business Bank has warned.
Energy bill support to cost billions as Ofgem unveils monster £4,279 price cap November 24, 2022 The energy price cap will rise by a further £700 in the new year, Ofgem has announced - a 20 per cent hike to its current record rates.
Feeling the chill: Hospitality bosses fear energy firms are profiteering in a crisis November 24, 2022 Hospitality bosses have accused suppliers of “deliberately profiteering” of the energy crisis, writes City A.M.
Ed Warner: Manchester United should have refused to tear up Cristiano Ronaldo contract November 24, 2022 Watching Cristiano Ronaldo’s conversation with Piers Morgan I was instantly reminded of Princess Di’s (in)famous interview with Martin Bashir, so much in the news in recent months. No sense here though that the footballer was duped into his doe-eyed criticisms of Manchester United – certainly not if we accept Morgan’s subsequent justifications for the guest [...]
Royal Mail strikes will crush retail and small businesses when we need them to grow November 24, 2022 The UK boasts one of the world’s most sophisticated ecommerce economies, with small businesses thriving by scaling up their retail operations online. But more than four decades on from the Winter of Discontent, industrial action risks destabilising this flourishing online economy. We understand the challenges that workers are facing during these unprecedented times, with higher [...]
Hunt urges Brits to ‘take responsibility’ with their energy bills with support to end in 2024 November 23, 2022 Universal support for household energy bills will not be extended again, confirmed Jeremy Hunt to MPs today.
Taxman grabs 30 per cent more from Brits over last five years November 23, 2022 The amount of money the taxman takes away from Brits has climbed 30 per cent over the last five years, City A.M. analysis of official figures shows. In the year to 31 October this year, HMRC collected £757bn in taxes, up from £584bn in 2015/16, stats out this week reveal. The rise in tax revenues [...]
Londonmetric suffers £100m rates-fuelled blow to property portfolio value November 23, 2022 Londonmetric Property has emerged as the latest real estate investment trust to suffer an interest rates-fuelled hit to its portfolio. The portfolio, which still stands at £3.5bn, has shed £100m in value since March, as the company’s property and capital returns dwindle. Rising interest rates has eroded the value of several of the UK’s largest [...]